Prospecting Wisely...
I read Jennifer Allen Hagedorn's post on Sunday which, in essence, was a rebuttal of the notion that the most important thing that we are supposed to do as real estate agents is seek for new business, otherwise known as prospecting.
The premise she was refuting is a simple one: that in order to stay in business, we (as agents) have to keep our pipelines full, and that should occupy the vast majority of our time.
Jennifer’s challenge to those who subscribe to that notion was also simple: would you be willing to share a business plan with your clients and potential future business that focused on gaining new clients to the extent that it would alienate your current clients and future business?
I agree that prospecting is not the most important thing that we are to do as agents, but I would not necessarily go that far.
There are things that we do everyday that could be considered prospecting: speaking to friends, acquaintances, family members, etc. about real estate when the opportunity or topic presents itself or wearing our name badges everywhere we go is one form of active prospecting that we do (I am sure that most of us do this on a regular basis).
But, I do not have to set aside 2-3 hours each day to actively prospect for new business.
I am a big fan of using passive techniques to draw new business my way. Things like leaving business cards in local business establishments, or using direct mail campaigns to target expired listings and specific geographic areas. Things like blogging about existing and new listings, providing information for buyers and sellers, talking about local community events and highlighting local businesses on my blog - they are all forms of passive prospecting. It may be more expensive, but it works.
How do I know?
When people call me to ask about properties they’ve seen either in person or online, or they call to ask for a market analysis of their home, and I ask “where did you find me?,” their answer is invariably one of the following:
· I picked up your card at…
· I searched Google for Waterbury agents, and you were on page 1…
· I read your blog on ActiveRain…
· I got your postcard in the mail that said…
Then there are the e-mail enquiries that I get from my website. There is a very strong likelihood that those who have found my website did so either through my blog, or any of the myriad other places I have linked my website to my personal profile: Facebook, Twitter, LinkedIn, other social media sites (you get the picture…).
Much of the business I have been getting lately has not been because I have been spending my time actively prospecting. I have systems set up to do the prospecting for me. Much less time consuming and energy draining, which leaves me with the time to, among other things, devote to my existing clients’ needs.
So, here’s my challenge: share the things that you do to prospect for new business that don't otherwise consume your valuable time and energy.
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